Pet Economics 101 Do high hospital profits and good medicine go hand in hand?

They do if you ask any of the self-styled veterinary practice management gurus who are happy to have you believe that high quality medicine is synonymous with big money.

The commentary in July 1st’s JAVMA (sorry, not online yet) dealt well with our profession’s professed soothsayers. Titled, “Is good medicine defined by profit structure?” this piece takes an enjoyably circuitous and...

June 26th, 2008 20 Comments

Pet Economics 101 Cash and credit-strapped? Pet insurance that actually works for you

How often have I scribbled posts on the virtues of pet insurance, only to be chastised by you, dear readers, for your inability to consider it a practical alternative for those who live paycheck to paycheck the way many of us increasingly do (gasoline, Summer camp and orthodontics, anyone?).

If the goal of pet insurance is to save your pet’s life in a crisis, you say, pet insurance helps you...

June 22nd, 2008 21 Comments

Pet Economics 101 Investing in pet health companies: This veterinarian’s top picks

Second only to the market for technology, the pet market is booming in ways the rest of the US market for goods and services could only dream of in such an economy as ours lingers at present. Perhaps it’s not the best time, then, to invest in a powerhouse niche others are doubtless already informed of—but I prefer to take the long view on these things.

Though I have no funds available for...

May 20th, 2008 12 Comments

Pet Economics 101 Pick your poison: Modern pet healthcare or pink juice Kool-Aid

For the second time in as many weeks, I’ve been berated for the prices OTHER vets charge. 1-The emergency room visit for accidental snail bait ingestion that ended up costing $2,800 for less than 72 hours of care. 2-The specialist’s masterful treatment of a severe congenital heart defect that tapped his owner’s savings to the tune of $6,000.

Both cases demonstrate the extreme expenses many pet...

May 15th, 2008 8 Comments

Pet Economics 101 But…is it Gucci? Brand name nutritional supplements in pet medicine

I find that many of my clients want to be told exactly which supplements or vitamins their pets need…and which they needn’t spend the money on. It’s a relatively easy thing for me to do in an individualized fashion, assuming I’ve had the chance to examine the pet fully and run basic tests on his/her blood and urine (further diagnostics, if necessary).

But I find that at some point it’s not so...

May 1st, 2008 5 Comments

Pet Economics 101 Demystifying the cost of spays and neuters in veterinary practice

Spays and neuters can be really inexpensive. Call up your local shelter and ask. I’ve seen them go for nothing in some municipalities (as in $0) and seldom for more than a hundred bucks. $30-$50 seems about average for my part of the US (South Florida).

But “alterations” (spay or ovariohysterectomy for females and neuter or castration for boys) can also be darn pricey when they're not heavily...

April 30th, 2008 23 Comments

Pet Economics 101 Diversion: No walk in the park for the veterinary industry (and what that means for your vet costs)

“Diversion” is a fun term we in the retail industry use to describe the re-selling of products purchased by one legitimate retailer to another, illegitimate retailer.

Often, it’s illegal. And almost always, it’s unethical. Some vets play this product-swapping game to make an extra buck. And other vets bristle—sometimes Halloween cat-style—when they do. (Read the Veterinary Practice News cover

April 13th, 2008 10 Comments

Pet Economics 101 Vincent's anniversaryand the real cost of owning a puppy

We love Vincent. He's spectacularly cute and a seriously skilled cuddler. But Vincent's not without his issues. In recognition of his anniversary with us and just because I thought it would be fun, here’s the skinny on how much Vincent’s cost me in his first year with me.

Are you ready?

Food

Since my dogs eat what I do except for a bowl of Solid Gold once a day, my food costs aren’t exorbitant....

March 27th, 2008 27 Comments

Pet Economics 101 Financial angst in veterinary school sometimes means opting out mid-stream

You’ve wanted to be a vet forever. That’s why you spent every last summer in memory working with animals. You made the grade in college by turning down party after party. You suffered the nailbitingly stressful application and acceptance process. You survived anatomy and physiology in year one and endless pathology coursework in year two only to wake up to a crisis of conscience in years three...

March 25th, 2008 22 Comments

Pet Economics 101 Where have all the veterinarians gone? On the emerging US vet-shortage crisis

No, you’ll probably never notice there aren’t enough vets in town ready and able to attend to Fluffy’s healthcare needs. But you can be sure the average livestock owner has to wait an increasingly long while for the vet to come care for his or her population of critters.

Imagine owning a 150-head dairy farm in Pennsylvania and realizing your vet’s just retired. He’s done. Not coming back. And...

March 17th, 2008 13 Comments